Morning journal and courier., 1887-05-07
TRADE PROsPECTs BRIGHT
Although Five Thousand Men Art
 Striking Every Day.

Although Five Thousand Men Are
 Striking Every Day.
 NEW YORK, May Especial telegrams to Bradstreet's from about one hundred cities and towns this week are encouraging as to general trade prospects. At Pittsburg, Gin cinnati, St. Louis, Davenport, New Orleans and San Francisco there has been an actual improvement, general merchandise moving freely and somewhat in excess of previous weeks Philadelphia, Boston and Omaha re- port less trouble with new rail rates and at ether points the process of readjusting freight charges continues with noticeable good effect. The decline in complaints of disturbance to trade lowing to the interstate commerce law" is marked. The drouth in Texas has been broken, but more rain is needed. Cotton and stock prospects are improved. In the region from Omaha to Milwaukee rain is needed and further north farm work and in- terior trade have been checked by cool weath |. or, although spring wheat planting is nearly completed. Special telegraphic reports of bank clearing from thirty-sevea cities shows an increase in the total this week over last ot $1O7, 300, ,000, or eleven per cent. There have been gains at almost all large cities. Mercantile collections have improved some and there is more active demand for funds at larger western centers, from some of which funds are again going to the country. At Chicago the speculation in wheat has in- duced a special demand for money resulting in higher loan rates. Iron and steel continue quiet. There are no stocks of pigs at furnaces. At the West there is tenden- cy toward concession on the pig prices and at PittsDurg on mill irons. It is shown by re- ports that out of one hundred and thirty seven thousand tons of pig iron produced weekly about sixty thousand tons is of Besse- mer pig. In December, 1886, out of one hundred and twenty-seven thousand tons fifty thousand tons were Bessemer. About one hundred furnaces out of about three hundred and fifty in blast are making Res- semer pig iron. Pig iron production has in- creased thirty-two per cent within year. This points to nearly three million tons of Bessemer zig iron this year out of six million eight hundred thousand probable produc
 ton. Speculation in grain and provisions has been active, with wheat and pork still in the hands of the mysterious clique. De- liveries of wheat were particularly larger on Monday and of provisions liberal. The sin gle house supposed to be controlling pork has advanced the price. from $21 to $23- 50 per barrel. Wheat is three cents higher and firm. The visible supply will decline this week. The government report May 10th is expected to show decline.of ten points in condition from April, or to 7s or 80 from 95 in May, 1886. Leading makes of cotton dry goods are sold ahead with prices firm. Woolens are weak; the production of mems woolens is 20 per cent. below full capacity. With the wool clip at hand wool is not active at the East. Western buyers are more con- fdent and expect to get last years opening prices. Cotton has been hi on increased on futures. Sugar is higher. May starts in with an average so far of about five thousand new strikers daily. The mercantile failures reported to Bradstreet's are in the United States this week 191, last week 158; in Canada this week 16, last week